Greece’s parliament on 5 November 2026 approved a dedicated cryptocurrency capital gains tax of 10%, with net annual gains up to €500 left untaxed. The rules apply from 1 January 2027. Reuters reported the vote; a finance ministry official said audit and transparency directives will follow.
For an Indian reader the useful part is the comparison. On the same ₹2 lakh of net profit, Greece’s bill takes about ₹20,000. India’s section 115BBH framework takes ₹62,400 at 31.2% (30% plus 4% cess), and a sale through an exchange usually also triggers 1% TDS under section 194S.
What Greece actually passed
The levy is on the net gain — transfer price minus acquisition price — not on the full sale proceeds. Trading costs tied to the deal can enter that calculation. Bitcoin Magazine and crypto.news, both citing Reuters and ministry materials, lay out the same core rules:
| Rule | Greece (from 1 Jan 2027) |
|---|---|
| Rate on net crypto gains | 10% |
| Annual tax-free floor | €500 of net gains |
| Crypto-to-crypto swap | Not a taxable capital gain |
| Paying for goods/services in crypto | Can crystallise a gain |
| Staking, lending, liquidity yield | Treated as interest (ministry materials: 15%) |
| Loss carry-forward | Up to 5 years, only against future crypto gains |
| Past undeclared gains | 12-month voluntary window without fines/interest if paid on time |
An earlier draft floated 15%. Public consultation cut the rate to 10% while keeping the €500 floor. Once net gains clear that floor, Greek analyses of the text say the 10% applies to the full net gain for the year, not only the slice above €500.
The same ₹2 lakh gain, side by side
We use a flat ₹2,00,000 net gain and, for the euro floor, the ECB EUR/INR reference of 106.04 on 5 November 2026 (€500 ≈ ₹53,020).
| Item | India today | Greece from 2027 |
|---|---|---|
| Tax on ₹2,00,000 net gain | ₹62,400 (31.2%) | ₹20,000 (10%) |
| Extra tax vs Greece | — | India pays ₹42,400 more |
| On ~₹53,020 net gain (€500) | ~₹16,540 | ₹0 |
| Crypto→crypto swap | Taxable VDA transfer | Not taxed as a capital gain |
| Exchange TDS | 1% under 194S | No equivalent in this bill |
Run the Indian side on the crypto tax calculator and the TDS calculator. A swap Greece leaves alone is still taxable here — check the swap tax calculator before hopping between coins on an Indian platform. Build the ITR schedule with the Schedule VDA CSV builder.
What it means for Indian investors
Greece’s rate does not apply to an Indian tax resident who sells on a FIU-registered exchange. You stay under 115BBH and 194S. The comparison still matters for three reasons:
- Benchmarking. Greece’s 10% sits at the soft end of an EU patchwork that still runs toward 30% in places such as France. India’s 31.2% flat rate with almost no deductions remains among the stricter retail frameworks.
- NRIs and dual ties. Tax residency, not the exchange’s flag, decides which table you use. See the NRI crypto tax calculator and our tax residency explainer.
- Reporting nets. The EU’s DAC8 and Hong Kong’s CARF path already push platforms to report users. Indian residents on foreign books should expect more automatic visibility — we covered that in Hong Kong Will Report Your Crypto Trades From 2027.
India also still blocks crypto losses from cutting other income, and one coin’s loss does not wipe another’s gain the way many readers expect. That is a second gap versus Greece’s five-year crypto-only loss carry-forward. Walk a worked example on the loss set-off calculator.
BtcMedia verdict
Greece chose a low, clear rate with a small floor and a non-taxable crypto-to-crypto hop. India chose a high flat rate, 1% TDS at source, and taxable swaps. On identical ₹2 lakh of profit, the Greek bill leaves about ₹42,400 more in the seller’s pocket — before India’s TDS cash-flow hit. Until Parliament changes 115BBH, every India-resident sale should be modelled at 31.2%, not at Europe’s softest published rate.
How we calculated this: India tax = ₹2,00,000 × 31.2%. Greece tax = ₹2,00,000 × 10%. €500 floor converted at ECB EUR/INR 106.04 on 5 Nov 2026 (IST write-up 6 Nov 2026). Sources: Reuters via Bitcoin Magazine and crypto.news; ECB reference rate; Income-tax Act VDA provisions.
FAQ
Does Greece’s 10% crypto tax apply to Indians?
No. An Indian tax resident is taxed under India’s virtual digital asset rules (section 115BBH), not under Greek income tax, unless Greek tax residency also applies.
Is a Bitcoin-to-USDT swap taxed in Greece the way it is in India?
Under Greece’s explanatory materials, crypto-to-crypto exchanges are not treated as taxable capital gains. In India, a swap is generally a taxable transfer of a virtual digital asset.
When does Greece’s new crypto tax start?
The framework applies where tax liability arises on or after 1 January 2027. Net annual gains up to €500 are exempt; above that, 10% applies to the net gain.
Not financial or tax advice. Rules change; confirm with a qualified adviser and primary government sources before you file.